Salem Investment Counselors Inc. Has $2.72 Million Position in Stryker Co. (NYSE:SYK)

Salem Investment Counselors Inc. increased its holdings in shares of Stryker Co. (NYSE:SYKFree Report) by 0.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 7,547 shares of the medical technology company’s stock after purchasing an additional 35 shares during the period. Salem Investment Counselors Inc.’s holdings in Stryker were worth $2,719,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Dunhill Financial LLC lifted its stake in shares of Stryker by 94.9% in the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after buying an additional 37 shares during the period. Centennial Bank AR raised its holdings in Stryker by 106.7% in the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after acquiring an additional 48 shares in the last quarter. Darwin Wealth Management LLC bought a new stake in shares of Stryker in the 3rd quarter worth approximately $36,000. HBW Advisory Services LLC acquired a new stake in shares of Stryker during the 3rd quarter worth approximately $42,000. Finally, Hara Capital LLC bought a new stake in shares of Stryker during the third quarter valued at approximately $42,000. Institutional investors own 77.09% of the company’s stock.

Stryker Trading Down 1.3 %

SYK stock opened at $360.96 on Tuesday. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. Stryker Co. has a twelve month low of $307.23 and a twelve month high of $398.20. The company has a market cap of $137.60 billion, a P/E ratio of 38.69, a PEG ratio of 2.82 and a beta of 0.95. The business has a fifty day moving average of $375.28 and a 200-day moving average of $358.09.

Stryker (NYSE:SYKGet Free Report) last released its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The company had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the prior year, the company posted $2.46 EPS. The company’s revenue was up 11.9% compared to the same quarter last year. As a group, equities research analysts expect that Stryker Co. will post 12.06 EPS for the current year.

Stryker Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Stryker’s previous quarterly dividend of $0.80. Stryker’s payout ratio is currently 36.01%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Barclays raised their target price on Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. lifted their target price on shares of Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Royal Bank of Canada reissued an “outperform” rating and issued a $425.00 price target on shares of Stryker in a research report on Tuesday, January 7th. Robert W. Baird lifted their price objective on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, JMP Securities reissued a “market perform” rating on shares of Stryker in a report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $405.80.

View Our Latest Report on SYK

Insider Buying and Selling at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the sale, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 5.90% of the company’s stock.

Stryker Profile

(Free Report)

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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